More than $1 billion in paperless payouts to be disbursed to claimants in 2023
BUFFALO, N.Y. – Milestone is thrilled to introduce Pathway, a technology platform that streamlines and digitizes the mass tort post-settlement process. Pathway revolutionizes traditional mass tort settlement by ensuring claimants’ funds arrive faster, making a variety of secure payment methods available, and giving claimants the often-missed opportunity to make educated decisions as to whether settlement planning is right for them.
As a premier mass tort qualified settlement fund administrator, Milestone is intimately familiar with the antiquated post-settlement process. Current mass tort settlement distribution procedures are largely – if not entirely – manual. Claimants in mass tort cases receive their payouts via paper check, which can take long to arrive, use an unnecessary amount of paper, and leave plaintiffs with more questions than answers.
Enter Pathway – the leading digital solution for mass tort law firms post settlement. Pathway automates the distribution process by enabling claimants to receive their payout in three simple steps – signing their digital closing statement, reviewing their financial planning options right in the platform, and then selecting their payment method (options include a prepaid virtual Mastercard, PayPal, Zelle, direct deposit or traditional paper check).
Once they make their payment selection, claimants can expect to receive their settlement funds within 10 business days – a wildly tighter timeline than the months-long process that is typical for mass tort settlement distribution. Claimants do have the ability to opt to receive a paper check, but Pathway still helps streamline that process and cut down on delivery time.
“Pathway is a radical step forward in so many ways, especially in terms of financial justice for the unbanked population who is disproportionately affected by the malpractice and faulty products that mass torts are designed to rectify,” said Paige Richardson, director of operations at Milestone. “After seeing Pathway implemented for some high-profile cases earlier this year, we’re confident this technology will transform the industry.”
In addition to modernizing the post-settlement process for mass tort claimants, Pathway saves law firms time and money through seamlessly integrating into the way they do business. By securely processing, storing, and transmitting claimant settlement data more efficiently than ever before, Pathway works with a law firm’s existing systems and takes the burden off the firm in organizing disbursement. Additionally, by offering a variety of paperless payout options, Pathway is a large step toward dramatically reducing the legal industry’s paper usage.
“As an invested member of the settlement industry, we see it as our social responsibility to go beyond simply providing settlement solutions to trial lawyers and their plaintiffs,” said Amy Fogle, chief executive officer at Milestone. “Pathway truly serves the betterment of our industry and our world.”
For more information on Pathway or to schedule a demo for your law firm, visit milestoneseventh.com/pathway.